EV financing digital platform Revfin has raised Rs 100 crore in debt, according to reports.
The startup is reportedly planning to use the fund for expanding into new geographies, financing three-wheelers. Moreover, the company also plans to provide loans for two-wheelers in the e-commerce delivery space.
It is looking to enter states like Assam, Madhya Pradesh, Rajasthan and Punjab for electric three-wheeler financing.
In September last year, the company had reputedly raised USD 4 million through equity.
The startup is currently functional across 18 states with over 350 dealership locations. It has partnerships with various original equipment manufacturers (OEMs).
According to reports, the company’s current revenues are around Rs 1 crore a month, which translates to about Rs 12 crore run rate (a year). It is expected to grow about four to five times in the next financial year.